One of the major trends witnessed in 2012 across the radio industry was local advertisers coming on board. While bigger brands and marketers were seen shying away due to the tough economic scenario, local brands were seen taking refuge with the medium as it caters to their tailored needs.
According to the CII-Ernst &Young Study ‘Poised for Growth: FM radio in India’ local retail advertisers account for 40 per cent of the total advertisement revenues of Indian radio companies. Regional radio networks generate almost 60-80 per cent of their total advertising revenues from retail advertisers.
What is it that makes radio not only a relevant but a practical medium for local brands and advertisers? “Radio is the only talking interactive medium. It connects with listeners in real time, and helps advertisers reach to the precise catchment area they want to target, unlike outdoor and print, which are lot more costly and target a larger mass,” said PM Balakrishna, COO, Allied Media.
Local touch is the biggest strength of radio, which also makes it cost effective. Also, total number of radio stations in a particular city is not very big, which gives advertisers an opportunity to cover a large number of spots and create concentration.
Campaigns from brands such as Omkar Realtors and Developers, Strand Book Stall and Tashi Shoes created some of the best radio campaigns in 2012. All the campaigns conveyed the brand message and tapped their TG very effectively.
“For us, real estate is a local play and so is radio,” said Bharat Dhuppar, CMO, Omkar Realtors and Developers. In Mumbai, people spend lot of time on radio while driving. This helps us in getting captivated audience, for while driving, one does not change stations frequently.”
Omkar Realtors and Developers created a 360-degree campaign in 2012. While all the other media created significant traction, Duppar shared that radio created recall value and long-term impact for the brand.
While any campaign depends immensely on the creatives, content, packaging and integration of the campaign play a significant role. Retail advertisers need to integrate their brand message with the problems and issues faced by the TG locally. A radio station will also help the brand weave its message around the stations tonality, thus giving the brand access to a particular station’s fans/listeners as well.
“Radio becomes a viable medium for local advertisers. RoI created by radio is obvious for one can track the increase in traction and footfall immediately,” added Balakrishna.
Radio is the only medium which reflects the local culture of a place to the T. While television, print and outdoor may not be able to tailor their services as per every street and suburb, radio can!